Ripple CEO Brad Garlinghouse says an XRP ETF Is ‘Inevitable’ | Bloomberg Talks

Well, I think there's one thing I feel very confident about, and that is the Biden administration's approach to regulation of the crypto industry that is coming to an end for sure. And I think no matter where this plays out at the presidential level, we'll have a more constructive engagement with this industry. It's a critical industry, it's an innovative technology, and I think the United States should be at the forefront and leading as we did with the internet of information. I think we'll get there. As I said yesterday at the Philadelphia Federal Reserve, I think Gary Gensler's reign of terror on the crypto industry is going to come to an end very soon.

Well, I've taken a very neutral point of view for the crypto industry. I think it's clear that the Republicans at a macro level have been more proactive in saying this is an industry that needs clear regulation. You have seen a Republican-led bill in the House pass with 71 or 72 Democrats crossing the aisle to support that in a very bipartisan way. So I think we have seen a more Republican-centric, but I also think you've seen indications that the Harris campaign wants to reset some of the very flawed approaches that the Biden Administration has had with the crypto industry and other parts of technology. So what I'm optimistic about is we're going to see a change, we're going to see a reset, and I think we need that at the federal level. The United States, there's no question the United States is behind other leading countries like the UK, like Switzerland, like Singapore, like Japan that are way ahead in providing constructive and clear regulation and rules of the road for this industry.

Look, I think we clearly are seeing ETFs have been popular. You know, the United States SEC was dragged kicking and screaming to approve the Bitcoin ETF in January. I think you've seen about 17 billion dollar flow into that ETF. I think it's the fastest growing ETF in history. It's very clearly demonstrating there's demand from institutions, there's demand from retail to access this asset class. So the XRP interest has grown. You've seen two or three ETF filings happen around XRP, and to me it's just inevitable you're going to see not just Bitcoin and ETH, you're going to see an XRP ETF. You're starting to see there's a filing around a basket ETF that has I think five or six cryptos in it, which I think also makes a lot of sense. But it also is just part of the trend of more and more institutionalized participation in the crypto industry. So I think we'll continue to see that, and I do think it creates upward pressure on the prices for many different cryptos including XRP.